AMD Stock: AI Tailwinds, Fair Value Up, So Hold (NASDAQ:AMD)
Summary
- AMD's Data Center segment is experiencing robust growth in both AI accelerators and server CPUs, though competition from custom chips presents headwinds.
- Client and Gaming segments show impressive year-over-year growth, with Ryzen gaining market share, while Embedded remains cyclical but poised for recovery.
- AMD is fairly valued today, with a base-case fair value estimate of $163.95 and strong growth prospects, fueled by increased market size and product prices.
- I maintain a Hold rating on AMD and a 0.8x position size, with plans to add below $119.24, sell above $218.9 or use a covered Call above $190.
Analystâs Disclosure:I/we have a beneficial long position in the shares of AMD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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